State oil giant Saudi Aramco will sign a final deal next week to build a new 400,000 barrels per day (bpd) oil refinery in Yanbu with China's Sinopec Group, the company said.
Aramco said the formal signing would take place on Saturday
State-run Saudi Aramco signed an initial deal with China's Sinopec Group to jointly build a $10-billion Yanbu refinery on the Red Sea coast, a pact that further cements ties between the two energy giants.
China, the world's No. 2 o
China's Sinopec Group and CNOOC are bidding for stakes in assets owned by Brazilian oil and gas start-up OGX SA in a potential $7 billion deal, sources with direct knowledge of the matter said on Friday.
OGX, part of the EBX industrial